Reduction of Interest-Bearing Debt and Stable Funding
First written in FY2016. 13 of 33 entries say "Advanced", first in FY2020. Latest entry: 2026-08-05.
Nippon Yusen moved to the "Worse" side of this theme in 2026, 2 years after the typical company in this theme (2024).
18 other companies' latest entry also says "Other".
- 2026-08-05OtherRevision to earnings forecasts
「有利子負債は、長期借入金の増加等により1,601億円増加して１兆3,616億円となり、負債の合計は前連結会計年度末に比べ1,570億円増加し２兆2,152億円となりました。」
有利子負債が前年度末から増加し、D/Eレシオは0.39から0.44へ上昇した。 - FY2026Increase in interest-bearing debt and D/E ratioAnnual report
「Interest-bearing debt increased by ¥463.0 billion to ¥1.2014 trillion, mainly due to an increase in long-term borrowings and other items. Total liabilities also increased by ¥707.6 billion to ¥2.0582 trillion. As a result, the interest-bearing debt-to-equity ratio (D/E ratio) was 0.39, while the equity ratio was 59.1%.」
Interest-bearing debt increased by ¥463.0 billion from the end of the previous fiscal year, and the D/E ratio rose from 0.25 to 0.39. - FY2026-H1Increase in interest-bearing debt and D/E ratioAnnual report
「Interest-bearing debt increased by ¥132.0 billion to ¥870.4 billion, mainly due to an increase in long-term borrowings and other items. Total liabilities also increased by ¥136.9 billion from the end of the previous consolidated fiscal year to ¥1.4872 trillion. As a result, the interest-bearing debt-to-equity ratio (D/E ratio) was 0.31, while the equity ratio was 64.8%.」
Interest-bearing debt increased by ¥132.0 billion from the end of the previous fiscal year, and the D/E ratio rose from 0.25 to 0.31. - FY2025AdvancedAnnual report
「Interest-bearing debt decreased by ¥175.3 billion to ¥738.4 billion, mainly due to a decrease in short-term borrowings and other items. Total liabilities also decreased by ¥211.1 billion to ¥1.3502 trillion. As a result, the interest-bearing debt-to-equity ratio (D/E ratio) was 0.25, while the equity ratio was 67.6%.」
Reduced interest-bearing debt by ¥175.3 billion, lowering the D/E ratio from 0.34 at the end of the previous fiscal year to 0.25 and improving the equity ratio to 67.6%. - FY2025-H1AdvancedAnnual report
「Interest-bearing debt decreased by ¥184.9 billion to ¥728.8 billion, mainly due to a decrease in short-term borrowings and other items. Total liabilities also decreased by ¥206.5 billion from the end of the previous consolidated fiscal year to ¥1.3548 trillion. As a result, the interest-bearing debt-to-equity ratio (D/E ratio) was 0.26, while the equity ratio was 66.5%.」
Reduced interest-bearing debt by ¥184.9 billion, lowering the D/E ratio from 0.34 at the end of the previous fiscal year to 0.26 and improving the equity ratio to 66.5%. - FY2024Increase in interest-bearing debt and D/E ratioAnnual report
「Interest-bearing debt increased by ¥219.7 billion to ¥913.8 billion, mainly due to an increase in short-term borrowings and other items. Total liabilities also increased by ¥309.6 billion to ¥1.5614 trillion. As a result, the interest-bearing debt-to-equity ratio (D/E ratio) was 0.34, while the equity ratio was 62.3%.」
Interest-bearing debt increased by ¥219.7 billion from the end of the previous fiscal year, and the D/E ratio rose from 0.28 to 0.34. The equity ratio also declined from 65.6% to 62.3%. - FY2024-Q3Increase in interest-bearing debt and D/E ratioAnnual report
「Interest-bearing debt increased by ¥155.5 billion to ¥849.6 billion, mainly due to an increase in short-term borrowings and other items. Total liabilities also increased by ¥179.5 billion from the end of the previous consolidated fiscal year to ¥1.4313 trillion. As a result, the interest-bearing debt-to-equity ratio (D/E ratio) was 0.34, while the equity ratio was 63.1%.」
Interest-bearing debt increased by ¥155.5 billion from the end of the previous fiscal year, and the D/E ratio rose from 0.28 to 0.34. The equity ratio declined from 65.6% to 63.1%. - FY2024-Q2Interest-bearing debt increased; D/E ratio unchangedAnnual report
「Interest-bearing debt increased by ¥31.0 billion to ¥725.1 billion, mainly due to an increase in borrowings resulting from foreign exchange effects and other factors. Total liabilities also increased by ¥78.4 billion from the end of the previous consolidated fiscal year to ¥1.3302 trillion. As a result, the interest-bearing debt-to-equity ratio (D/E ratio) was 0.27, while the equity ratio was 65.9%.」
Interest-bearing debt increased by ¥31.0 billion from the end of the previous fiscal year, but the D/E ratio remained at 0.27, unchanged from the previous fiscal year-end, due to an increase in equity. The equity ratio was 65.9%. - FY2024-Q1Interest-bearing debt increased; D/E ratio decreasedAnnual report
「Interest-bearing debt increased by ¥17.4 billion to ¥711.5 billion, mainly due to increases in borrowings and other items. Total liabilities increased by ¥61.4 billion from the end of the previous consolidated fiscal year to ¥1.3132 trillion. As a result, the interest-bearing debt-to-equity ratio (D/E ratio) was 0.27, while the equity ratio was 65.6%.」
Interest-bearing debt increased by ¥17.4 billion from the end of the previous fiscal year, while the D/E ratio decreased from 0.28 to 0.27 due to an increase in equity. - FY2023AdvancedAnnual report
「Interest-bearing debt decreased by ¥114.2 billion from the end of the previous consolidated fiscal year to ¥694.0 billion, mainly due to decreases in bonds, borrowings and other items. Total liabilities decreased by ¥69.1 billion to ¥1.2518 trillion. As a result, the interest-bearing debt-to-equity ratio (D/E ratio) was 0.28, while the equity ratio was 65.6%.」
Reduced interest-bearing debt by ¥114.2 billion, lowering the D/E ratio to 0.28x and improving the equity ratio to 65.6%. - FY2023-Q3AdvancedAnnual report
「Interest-bearing debt decreased by ¥79.5 billion to ¥728.7 billion, mainly due to a decrease in short-term borrowings and other items. Total liabilities also decreased by ¥8.0 billion from the end of the previous consolidated fiscal year to ¥1.3128 trillion. In net assets, retained earnings increased by ¥530.8 billion, bringing equity, comprising total shareholders’ equity and accumulated other comprehensive income, to ¥2.3969 trillion. Including ¥44.8 billion in non-controlling interests, total net assets amounted to ¥2.4417 trillion. As a result, the interest-bearing debt-to-equity ratio (D/E ratio) was 0.30, while the equity ratio was 63.8%.」
Reduced interest-bearing debt by ¥79.5 billion from the end of the previous fiscal year, resulting in a D/E ratio of 0.30 and an equity ratio of 63.8%. - FY2023-Q2AdvancedAnnual report
「As a result, the interest-bearing debt-to-equity ratio (D/E ratio) was 0.35, while the equity ratio was 62.0%.」
The interest-bearing debt-to-equity ratio decreased from 0.47 at the end of the previous fiscal year to 0.35, while the equity ratio increased from 55.6% to 62.0%. - FY2023-Q1AdvancedAnnual report
「As a result, the interest-bearing debt-to-equity ratio (D/E ratio) was 0.43, while the equity ratio was 56.6%.」
The interest-bearing debt-to-equity ratio improved from 0.47 to 0.43, while the equity ratio improved from 55.6% to 56.6%. - FY2022AdvancedAnnual report
「Interest-bearing debt decreased by ¥142.8 billion from the end of the previous consolidated fiscal year to ¥808.2 billion, mainly due to decreases in bonds, borrowings and other items. Total liabilities decreased by ¥137.1 billion from the end of the previous consolidated fiscal year to ¥1.3209 trillion. As a result, the interest-bearing debt-to-equity ratio (D/E ratio) was 0.47, while the equity ratio was 55.6%.」
Reduced interest-bearing debt by ¥142.8 billion from the end of the previous fiscal year, lowering the D/E ratio to 0.47 and improving the equity ratio to 55.6%. - FY2022-Q3AdvancedAnnual report
「Interest-bearing debt decreased by ¥83.6 billion to ¥867.4 billion, mainly due to a decrease in long-term borrowings and other items. Total liabilities also decreased by ¥82.5 billion from the end of the previous consolidated fiscal year to ¥1.3755 trillion. As a result, the interest-bearing debt-to-equity ratio (D/E ratio) was 0.66, while the equity ratio was 48.0%.」
Reduced interest-bearing debt by ¥83.6 billion from the end of the previous fiscal year, resulting in a D/E ratio of 0.66 and an equity ratio of 48.0%. - FY2022-Q2AdvancedAnnual report
「Interest-bearing debt decreased by ¥112.1 billion to ¥838.9 billion, mainly due to a decrease in long-term borrowings and other liabilities, while total liabilities decreased by ¥136.9 billion from the end of the previous consolidated fiscal year to ¥1.3211 trillion. As a result, the interest-bearing debt-to-equity ratio (D/E ratio) was 0.81 and the equity ratio was 43.1%.」
Reduced interest-bearing debt by ¥112.1 billion from the end of the previous fiscal year, improving the D/E ratio from 1.22 to 0.81 and the equity ratio from 34.2% to 43.1%. - FY2022-Q1AdvancedAnnual report
「Interest-bearing debt decreased by ¥13.5 billion to ¥937.6 billion, while total liabilities decreased by ¥24.6 billion from the end of the previous consolidated fiscal year to ¥1.4334 trillion. As a result, the interest-bearing debt-to-equity ratio (D/E ratio) was 1.22 and the equity ratio was 34.2%.」
As interest-bearing debt declined, the D/E ratio improved from 1.52 at the end of the previous fiscal year to 1.22, and the equity ratio improved from 29.4% to 34.2%. - FY2021AdvancedAnnual report
「Interest-bearing debt decreased by ¥98.7 billion from the end of the previous consolidated fiscal year, mainly due to decreases in bonds and long-term borrowings. As a result, the interest-bearing debt-to-equity ratio (D/E ratio) was 1.52 and the equity ratio was 29.4%.」
Reduced interest-bearing debt by ¥98.7 billion, lowering the D/E ratio to 1.52x. The ratio moved closer to the medium-term target of 1.50x or lower, while the equity ratio also improved to 29.4%. - FY2021-Q3AdvancedAnnual report
「Although total liabilities increased due to higher provisions for contract losses, they decreased by ¥14.3 billion from the end of the previous consolidated fiscal year to ¥1.42 trillion, reflecting the reduction in interest-bearing debt. As a result, the interest-bearing debt-to-equity ratio (D/E ratio) was 1.97 and the equity ratio was 25.5%.」
Interest-bearing debt decreased by ¥63.8 billion from the end of the previous consolidated fiscal year, and the D/E ratio declined from 2.27 to 1.97. It remained above the medium-term target of 1.50 or lower. - FY2021-Q2D/E ratio of 2.14; ¥310 billion in undrawn committed credit linesAnnual report
「Among other factors, repayments of short- and long-term borrowings, including borrowings from multiple committed credit lines held to secure liquidity, with total undrawn availability of approximately ¥310 billion at the end of the second quarter, increased」
Undrawn committed credit lines held to secure liquidity totaled approximately ¥310 billion, and repayments of short- and long-term borrowings also progressed. The D/E ratio was 2.14. - FY2021-Q1Decline in the D/E ratio to 2.23Annual report
「As a result, the interest-bearing debt-to-equity ratio (D/E ratio) was 2.23.」
The D/E ratio declined from 2.27x at the end of the previous consolidated fiscal year to 2.23x, but remained above the medium-term plan target of 1.50x or lower. - FY2020AdvancedAnnual report
「In addition, we have secured multi-year committed credit lines, with approximately ¥230 billion undrawn as of March 2020.」
Amid the impact of COVID-19, secured long-term funding ahead of schedule and multi-year committed credit lines, strengthening the liquidity base. - FY2020-Q3Decline in the D/E ratio to 2.36Annual report
「As a result, the interest-bearing debt-to-equity ratio (D/E ratio) was 2.36.」
The D/E ratio declined from 2.40 at the end of the previous quarter to 2.36, but remained above the medium-term plan target of 1.50 or lower. - FY2020-Q2Increase in the D/E ratio to 2.40Annual report
「As a result, the interest-bearing debt-to-equity ratio (D/E ratio) was 2.40.」
The D/E ratio rose from 2.15 at the end of the previous consolidated fiscal year to 2.40, exceeding the medium-term plan target of 1.50 or lower. - FY2020-Q1Increase in the D/E ratio to 2.34Annual report
「As a result, the interest-bearing debt-to-equity ratio (D/E ratio) was 2.34.」
The D/E ratio rose from 2.15 at the end of the previous consolidated fiscal year to 2.34. The increase in lease liabilities resulting from the adoption of IFRS 16 was also reported. - FY2019Increase in the D/E ratio; medium-term target not achievedAnnual report
「FY2018 actual: Medium-term target (around 2022) Ordinary income (loss): △¥2.0 billion; ¥70.0–100.0 billion ROE: △8.6%; min. 8.0% Equity ratio: 24%; min. 30.0% D/E ratio: 2.15x; 1.50x or lower」
Against the medium-term plan target of a D/E ratio of 1.50 or lower, the FY2018 actual result was 2.15x. - FY2019-Q3Decline in the D/E ratio to 2.03Annual report
「As a result, the interest-bearing debt-to-equity ratio (D/E ratio) was 2.03.」
The D/E ratio declined from 2.11 at the end of the first quarter to 2.03, but remained above the new medium-term management plan target of 1.50 or lower. - FY2019-Q1Increase in D/E ratioAnnual report
「As a result, the interest-bearing debt-to-equity ratio (D/E ratio) was 2.11.」
Reported that the D/E ratio was 2.11 at the end of the first quarter. - FY2018RaisedAnnual report
「We will maintain financial soundness while reducing interest-bearing debt through asset securitization and cost reductions.」
The new medium-term management plan explicitly calls for reducing interest-bearing debt and sets a target of reducing the D/E ratio to 1.50 or lower by around 2022. - FY2017RestatedAnnual report
「We secure the funds required to maintain and expand the Group's business activities on a stable basis without compromising financial soundness or exposing ourselves excessively to the risks of any particular market. Funding is obtained through borrowings from financial institutions and the issuance of bonds and commercial paper, while leases and other arrangements are used for vessels and aircraft.」
Reaffirmed its stable funding policy combining borrowings, bonds, commercial paper and leases. The year-end D/E ratio was 1.81. - FY2016First statedAnnual report
「We secure the funds required to maintain and expand the Group's business activities on a stable basis without compromising financial soundness or exposing ourselves excessively to the risks of any particular market. Funding is obtained through borrowings from financial institutions and the issuance of bonds and commercial paper, while leases and other arrangements are used for vessels and aircraft.」
Presents a stable funding policy combining borrowings, bonds, commercial paper and leases. The D/E ratio at the end of the period was 1.22, and repayment of interest-bearing debt was also reported.